Ryan Specialty Group reprices $1.65B term loan

Ryan Specialty announced the successful repricing of its $1.65B term loan debt, which is expected to reduce its annual cash interest expense by approximately $5.6M. The repriced term loan bears an interest rate of SOFR plus 2.75%, an improvement of 25 basis points from the prior Term loan, and no longer contains a credit spread adjustment. The term loan’s maturity date of September 2027 and other material provisions remain unchanged.